WAIGX vs. FIQIX

Last updated Jul 14, 2026

WAIGX (Wasatch International Growth Fund) and FIQIX (Fidelity Advisor International Small Cap Fund Class Z) are both Foreign Small & Mid Cap Equities funds. Over the past 5 years, WAIGX returned -2.54%/yr vs 6.38%/yr for FIQIX. Their correlation of 0.83 suggests significant overlap in exposure. WAIGX charges 1.44%/yr vs 0.89%/yr for FIQIX.

Performance

WAIGX vs. FIQIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Wasatch International Growth Fund (WAIGX) and Fidelity Advisor International Small Cap Fund Class Z (FIQIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WAIGX achieves a 7.73% return, which is significantly lower than FIQIX's 8.30% return.

WAIGX

• 1D: 0.06%
• 1M: -1.00%
• 6M: 5.58%
• YTD: 7.73%
• 1Y: -0.37%
• 3Y*: 8.30%
• 5Y*: -2.54%
• 10Y*: 4.61%

FIQIX

• 1D: 0.35%
• 1M: -0.99%
• 6M: 6.65%
• YTD: 8.30%
• 1Y: 13.83%
• 3Y*: 13.43%
• 5Y*: 6.38%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

WAIGX vs. FIQIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
WAIGX Wasatch International Growth Fund	7.73%	11.89%	-0.62%	11.64%	-36.64%	10.86%	24.65%	29.43%	-15.00%
FIQIX Fidelity Advisor International Small Cap Fund Class Z	8.30%	24.80%	0.14%	19.76%	-16.53%	13.56%	10.12%	21.61%	-7.47%

Correlation

The correlation between WAIGX and FIQIX is 0.82, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since Oct 17, 2018	0.83

The correlation between WAIGX and FIQIX has been stable across timeframes, ranging from 0.82 to 0.84 - a consistent structural relationship.

Return for Risk

WAIGX vs. FIQIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

WAIGX

WAIGX Risk / Return Rank: 3
WAIGX Sharpe Ratio Rank: 3
WAIGX Sortino Ratio Rank: 3
WAIGX Omega Ratio Rank: 3
WAIGX Calmar Ratio Rank: 3
WAIGX Martin Ratio Rank: 3

FIQIX

FIQIX Risk / Return Rank: 22
FIQIX Sharpe Ratio Rank: 22
FIQIX Sortino Ratio Rank: 22
FIQIX Omega Ratio Rank: 23
FIQIX Calmar Ratio Rank: 21
FIQIX Martin Ratio Rank: 24

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

WAIGX vs. FIQIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Wasatch International Growth Fund (WAIGX) and Fidelity Advisor International Small Cap Fund Class Z (FIQIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	WAIGX	FIQIX	Difference
Sharpe ratio: Return per unit of total volatility	-0.06	0.99	-1.05
Sortino ratio: Return per unit of downside risk	0.02	1.47	-1.44
Omega ratio: Gain probability vs. loss probability	1.00	1.19	-0.19
Calmar ratio: Return relative to maximum drawdown	-0.05	1.23	-1.28
Martin ratio: Return relative to average drawdown	-0.12	4.26	-4.39

WAIGX vs. FIQIX - Sharpe Ratio Comparison

The current WAIGX Sharpe Ratio is -0.06, which is lower than the FIQIX Sharpe Ratio of 0.99. The chart below compares the historical Sharpe Ratios of WAIGX and FIQIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

WAIGX vs. FIQIX - Drawdown Comparison

The maximum WAIGX drawdown since its inception was -67.66%, which is greater than FIQIX's maximum drawdown of -36.61%. Use the drawdown chart below to compare losses from any high point for WAIGX and FIQIX.

Drawdown Indicators

	WAIGX	FIQIX	Difference
Max Drawdown Largest peak-to-trough decline	-67.66%	-36.61%	-31.05%
Max Drawdown (1Y) Largest decline over 1 year	-17.68%	-10.72%	-6.96%
Max Drawdown (3Y) Largest decline over 3 years	-19.49%	-12.65%	-6.84%
Max Drawdown (5Y) Largest decline over 5 years	-48.06%	-30.95%	-17.11%
Max Drawdown (10Y) Largest decline over 10 years	-48.06%	—	—
Current Drawdown Current decline from peak	-20.81%	-2.86%	-17.95%
Average Drawdown Average peak-to-trough decline	-14.35%	-6.70%	-7.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.21%	3.09%	+4.12%

Volatility

WAIGX vs. FIQIX - Volatility Comparison

The current volatility for Wasatch International Growth Fund (WAIGX) is 4.95%, while Fidelity Advisor International Small Cap Fund Class Z (FIQIX) has a volatility of 5.50%. This indicates that WAIGX experiences smaller price fluctuations and is considered to be less risky than FIQIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WAIGX	FIQIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.95%	5.50%	-0.55%
Volatility (6M) Calculated over the trailing 6-month period	13.17%	11.61%	+1.56%
Volatility (1Y) Calculated over the trailing 1-year period	15.24%	13.30%	+1.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.93%	13.76%	+5.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.08%	15.19%	+2.89%

WAIGX vs. FIQIX - Expense Ratio Comparison

WAIGX has a 1.44% expense ratio, which is higher than FIQIX's 0.89% expense ratio.

Dividends

WAIGX vs. FIQIX - Dividend Comparison

WAIGX's dividend yield for the trailing twelve months is around 49.92%, more than FIQIX's 3.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
FIQIX Fidelity Advisor International Small Cap Fund Class Z	3.40%	3.68%	2.73%	1.99%	0.83%	7.39%	0.93%	2.47%	6.33%	0.00%	0.00%
WAIGX Wasatch International Growth Fund	49.92%	53.78%	20.59%	0.00%	0.00%	10.13%	10.93%	2.50%	17.84%	2.71%	4.01%

Frequently Asked Questions

Can I hold both WAIGX and FIQIX in my portfolio?

WAIGX and FIQIX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WAIGX or FIQIX?

FIQIX has higher volatility (5.50%) compared to WAIGX (4.95%). In terms of maximum drawdown, WAIGX dropped -67.66% vs FIQIX's -36.61%.

Which has better risk-adjusted returns?

FIQIX currently has the higher Sharpe Ratio (0.99 vs -0.06), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.